Oil Exploration - Banthungyai, Phetchabun

[tariq]

Hi , this is a longshot but maybe someone knows how to help me or at least point me in the right direction.

I've promised to try help a Thai friend get some information. Basically, their parents own property in Banthungyai, Phetchabun. The region is currently undergoing some succesful oil exploration and an offer to buy the parents' property has been made. Unfortunately the offer is not very much and the parents do not want to sell.

From what I can gather it doesn't seem to be the oil company direct that is making the offer but my friend didn't seem to know who the company was that was making the offer.

We think the oil company is Thai Oil but we're not sure.

Questions:

Does anyone have any knowledge about attempts to purchase property from land owners in this region?

Can anyone confirm that it's Thai Oil involved?

Does anyone know how to go about contacting the oil comnpany direct so that a better price can be negotiated?

If anyone can help I'd be very grateful.

Thanks

Taz.

[LaoPo]

Hi , this is a longshot but maybe someone knows how to help me or at least point me in the right direction.

I've promised to try help a Thai friend get some information. Basically, their parents own property in Banthungyai, Phetchabun. The region is currently undergoing some succesful oil exploration and an offer to buy the parents' property has been made. Unfortunately the offer is not very much and the parents do not want to sell.

From what I can gather it doesn't seem to be the oil company direct that is making the offer but my friend didn't seem to know who the company was that was making the offer.

We think the oil company is Thai Oil but we're not sure.

Questions:

Does anyone have any knowledge about attempts to purchase property from land owners in this region?

Can anyone confirm that it's Thai Oil involved?

Does anyone know how to go about contacting the oil comnpany direct so that a better price can be negotiated?

If anyone can help I'd be very grateful.

Thanks

Taz.

<{POST_SNAPBACK}>

Hmm, I wouldn't sell at this stage.

Sit still and wait and NEVER contact the buyers themselves since you will put yourself in a weaker position.

LaoPo

[~G~]

From what you say it seems that the oil company appointed some kind of agent to perform the purchase on their behalf. That's the path they've chosen, trying to bypass this body will not neccessarily get you a better price. I don't believe the low price is just due to the comission of this agent.

The owners are not in a hurry, right? the oil company is the one that has the interest to do it now and start making money asap. Tell whoever made the contact that you don't sell for this price and wait for a better offer.

What I would do in this situation is to try to get all the information I can about other purchases in that area - how much did they pay to other owners? Check the geographics - which other lands are they interested in? is that land an asset they cannot do without? Locals can figure out many things just by sitting and watching what's going on around them.

Edited April 25, 2005 by ~G~

[tariq]

From what you say it seems that the oil company appointed some kind of agent to perform the purchase on their behalf. That's the path they've chosen, trying to bypass this body will not neccessarily get you a better price. I don't believe the low price is just due to the comission of this agent.

The owners are not in a hurry, right? the oil company is the one that has the interest to do it now and start making money asap. Tell whoever made the contact that you don't sell for this price and wait for a better offer.

What I would do in this situation is to try to get all the information I can about other purchases in that area - how much did they pay to other owners? Check the geographics - which other lands are they interested in? is that land an asset they cannot do without? Locals can figure out many things just by sitting and watching what's going on around them.

<{POST_SNAPBACK}>

Hi there

Many thansks for your reply - it makes sense. Due to language dificulties between myself and my friend I wasn't able to find out as much info as I wanted to but hopefully this will help.